Keppel Land and Khang Dien Group to collaborate on sustainable urban developments in Ho Chi Minh City

Keppel Land, Singapore’s premier real estate developer, and Vietnam-based Khang Dien Group recently signed a Memorandum of Understanding (MOU), with a commitment to collaborate in the development of projects that create sustainable urban developments in Ho Chi Minh City.

The move demonstrates Keppel Land’s dedication to expand its presence in Vietnam, a key market with lucrative long-term potential.

The MOU is a non-binding agreement and is not expected to have a significant impact on Keppel Corp’s earnings or assets for the current financial year.

Louis Lim, CEO of Keppel Land, said, “We are pleased to collaborate with like-minded partners, such as the Khang Dien Group, to grow our business and contribute to Vietnam’s sustainable development.”

Having entered Vietnam in the early 1990s, Keppel Land has invested a total of US$3.5 billion in their projects and developed over 20 properties. Examples of these projects include Estella Heights, Celesta Rise, and Saigon Centre.

This move comes as investors in the Asia-Pacific region eye more assets, with Singapore ranking second as their preferred city. Hong Kong, however, has recently dropped off the radar.

Keppel Land also entered a joint venture with Phu Long Group in Vietnam to develop a new landed housing project in Ho Chi Minh City. This is yet another testament to their commitment to the growth of Vietnam. Senja Close EC

The MOU is just a stepping stone to the future of Keppel Land’s presence in Vietnam. It’s a sign of exciting times for the country, as Keppel Land and the Khang Dien Group join forces to create a more sustainable future for Ho Chi Minh City.